Sensex falls 145 points to 1-wk low as investors turn cautious

Mumbai, July 10: Hit by late selling, the benchmark S&P BSE Sensex today fell 145 points to a one-week low of 19,294.12 as investors turned cautious ahead of key economic data due later this week
sensex falls 145 points to 1 wk low as investors...
PTI July 10, 2013 17:56 IST
Mumbai, July 10: Hit by late selling, the benchmark S&P BSE Sensex today fell 145 points to a one-week low of 19,294.12 as investors turned cautious ahead of key economic data due later this week and quarterly earnings.



Weakness in the European markets also triggered selling, which was seen mainly in the refinery, realty, auto, capital goods, PSU, metal and power sectors.

The Sensex resumed higher at 19,482.66 and firmed up to 19,505.93 on sustained buying in view of capital inflows from foreign funds coupled with overnight gains in the US market.

The index later declined to 19,237.91, before ending at 19,294.12, a drop of 145.36 points, or 0.75 per cent.

The broader Nifty declined 42.30 points, or 0.72 per cent, to 5,816.70. The SX40, the flagship index of the MCX-SX, dropped 64.41 points, or 0.56 per cent, to 11,533.78.

Reliance Industries and ONGC were among the major losers. Brokers said profit-booking and a fall in refinery stocks mainly pulled down the market, besides a weak global trend following an unexpected fall in China's exports and imports.

"Investors were seen booking profits after yesterday's rally," said Nidhi Saraswat, senior research analyst at Bonanza Portfolio Ltd. "Weaker Chinese exports data triggered concerns over economic recovery."

Refinery stocks were under pressure after the RBI asked state-run oil companies to buy dollars from a single bank in a bid to curb volatility in the rupee, brokers said.

The Central Statistics Office is scheduled to release consumer price data for June and IIP for May on Friday. Most Asian stocks gained after an improved economic outlook clinched a fourth day of improvement for US equities yesterday. Key indices in China, Hong Kong, Singapore and Taiwan rose by 0.30 per cent to 2.17 per cent, while Japan and South Korea eased by 0.34 per cent to 0.39 per cent.

European stocks reversed initial gains as investors awaited the minutes of the US Fed meeting for further signs of how long the central bank's asset-purchase program will operate. Benchmark indices in UK, France and Germany dropped by 0.32 per cent to 0.44 per cent. Signs of a lower opening in US index futures also affected sentiment.
Related Tags: Sensex
 
Chunav Manch Gujarat 2017
 
 
killer smog
 

You May Like

   
 

More from business

 
 
Assembly Elections 2017